Golden Gate reshapes F&B ecosystem following The Coffee House deal, targets strong growth in 2026

Following the completion of the acquisition of The Coffee House and the restructuring of its system, Golden Gate enters 2026 with strong growth ambitions. The Group has set a target of increasing its after-tax profit by 118%.

Golden Gate Group Joint Stock Company has recently released documents for its 2026 Annual General Meeting of Shareholders, scheduled to take place on the afternoon of June 29 in Hanoi.

Explore additional aspects of the F&B industry:

[EN] VIETNAM CONSUMER FOODSERVICE REPORT 04/2025 (OUTLOOK TO 2029)

$699.00

Buy Now

Triple-digit growth in after-tax profit in 2025

According to the newly disclosed AGM documents, Golden Gate stated that 2025 was a challenging year due to macroeconomic fluctuations, which led consumers to tighten spending. Demand for dining, social gatherings, and entertainment declined significantly, affecting the company’s profit structure.

Hạng mục Items	Kết quả kiểm toán 2025 Audited FY2025	Kết quả kiểm toán 2024 Audited FY 2024	Tăng trưởng so với năm trước YoY Growth
Đvt/unit	Triệu đồng Million VND	Triệu đồng Million VND	(%)
Doanh thu thuần Net sales	7,690,511	6,633,654	15.9%
Lợi nhuận gộp Gross profit	4,710,672	4,084,302	15.3%
EBITDA	730,907	557,931	31.0%
Lợi nhuận sau thuế NPAT	213,768	100,461	112.8%

Source: Audited Consolidated Financial Statements of the Company for 2025

Through efforts to diversify its products and brands, as well as offering more reasonable pricing to customers, Golden Gate recorded net revenue of VND 7,691 billion in 2025, up 15.9% compared to 2024. After-tax profit reached VND 214 billion, representing a growth of 112.8%.

Alongside expanding its retail network, Golden Gate has been investing heavily in production capacity. In 2025, the Group commenced construction of a food processing plant at Tien Tien Industrial Park, Thinh Minh Commune, Phu Tho Province. The project is expected to become operational by mid-2026. The facility will specialize in ready-to-eat and frozen food products, playing a key role in the company’s long-term development strategy.

According to Golden Gate, the new facility will enhance supply chain autonomy, reduce dependence on external suppliers, improve input cost control, and ensure consistent product quality across its network of more than 560 outlets. This is considered a critical infrastructure foundation to support expansion while maintaining operational efficiency.

The Coffee House becomes a strategic piece

The year 2025 marked a major turning point as Golden Gate completed the acquisition of Vietnam Tea and Coffee Trading Service JSC, the operator of The Coffee House chain. The deal expanded Golden Gate’s ecosystem to over 560 stores nationwide and marked its deeper entry into the beverage market.

Previously, Golden Gate’s core business focused primarily on the restaurant segment, with well-known brands in hotpot, grilling, and chain dining concepts.

The addition of The Coffee House allows the company to access a customer base with daily consumption habits, thereby diversifying revenue streams and strengthening brand presence in the F&B industry.

Focusing on upgrading The Coffee House post-merger

Entering 2026, Golden Gate targets net revenue of approximately VND 9,814 billion, an increase of 27.6% compared to 2025.

Notably, after-tax profit is expected to reach VND 466.3 billion, equivalent to a growth rate of 118.1%. EBITDA is projected at VND 1,202 billion, up 64.4% year-on-year.

Chỉ tiêu Metric	Kế hoạch 2026 FY2026 Target	KQ Kiểm toán 2025 FY2025 Audited	Tăng trưởng so với 2025 YoY Growth
Đvt/unit	Triệu đồng Million VND	Triệu đồng Million VND	(%)
Doanh thuần Net sales	9,813,995	7,690,511	27.6%
EBITDA	1,201,561	730,907	64.4%
Lợi nhuận sau thuế NPAT	466,315	213,768	118.1%

Source: Audited Consolidated Financial Statements of the Company for 2025

The company has also proposed a cash dividend plan with a payout ratio of 82% of par value, equivalent to VND 8,200 per share.

To achieve these ambitious business goals, Golden Gate has identified four key strategic priorities for the year: selective network expansion, strengthening operational foundations through data and technology, enhancing customer experience, and restructuring The Coffee House.

The Coffee House is positioned as one of Golden Gate’s key strategic projects. The company plans to implement store renovations, innovate operating models, and adjust service offerings to better align with market demand.

The objective is to improve the coffee chain’s business efficiency, increase revenue from the beverage segment, and enhance customer engagement following the ownership transition.

ESOP issuance for key personnel

The AGM documents also indicate that Golden Gate will continue implementing its Employee Stock Ownership Plan (ESOP), with an issuance price of VND 10,000 per share. Eligible participants include key personnel who meet criteria related to capability, contribution, and long-term commitment to the company.

Notably, employees of The Coffee House from level 3.1 and above are included in the ESOP program, alongside Golden Gate managers from level E1 and above.

For certain key personnel at The Coffee House, ESOP shares will only become transferable once the chain achieves EBITDA breakeven based on its most recent business performance at the end of the lock-up period.

Planned bonus share issuance at a 1:12 ratio

In addition to cash dividends, Golden Gate plans to issue bonus shares at a notably high ratio of 1:12. Accordingly, shareholders owning one share will receive an additional 12 new shares from retained earnings.

The company expects to issue more than 93.4 million shares for this purpose. Currently, Golden Gate has approximately 7.79 million shares outstanding. Following the issuance, its charter capital is projected to increase to over VND 1,012 billion.

According to Doanh nhan & Phap luat

Source